Basware Corp. in Stamford is helping businesses tighten belts and making moves within its sector by expanding its purchase-to-pay services.
Ari Salonen, general manager for Basware North America, said the new additions allow Basware help businesses move their entire procurement process into an electronic environment, fully integrated with existing stock and finance-management systems.
Basware, “a purchase-to-pay solution developer,” has added e-procurment capabilities to its offering. The company”™s primary solution, Basware Connectivity seeks to enhance buyer-supplier collaboration capabilities.
Purchase-to-pay is the business process that covers activities of requesting, purchasing, receiving, paying for and accounting for goods and services.
Salonen said with tightened belts keeping businesses efficient, the process is a necessity in today”™s environment. He said additions like electronic invoice and procurement message exchange significantly increase data accuracy by replacing error-prone manual processes with automation. He said the system also creates electronic documents enabling better visibility and a full audit trail.
“Every time a transaction moves from one system to another, whether within a single organization or between supplier and customer, it adds delays in fulfillment and opens up possibilities for error,” said Salonen. “By automating these processes and moving to electronic document exchange with Basware Connectivity, buyers and suppliers can significantly reduce errors in the process, so they get it right the first time around and cut their processing costs in half along the way.”
